They claimed the natural and ordinary meaning of the contested statements is not actionable.

BBC: Sinn Fein legal bid to stop libel action by Declan Gormley

The amount converted is taxed as ordinary income, meaning a potentially large tax bill would be due the following April.

WSJ: Family Value: Is It Time to Convert

At the start of 2011, Allen converted 2.2 million shares of super-voting stock to ordinary shares, meaning he no longer retained a 35% voting interest associated with his super-voting shares.

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